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Transgaz income climbs by 25% despite lower gas consumption

17.02.2010, 20:01 9

Transgaz Medias (TGN) natural gas transmission operator lastyear derived net income worth 298m RON (70.1m euros), up 24.7%year-on-year and slightly higher than the budgeted level. Thecompany in the same period saw its turnover rise by 6%, to a levelof 1.18bn RON (279.4m euros). The rising turnover and incomeTransgaz reported last year were almost entirely due to a hike intariffs for transmission through the national system by 42.6%, to7.13 RON/MWh, reads the company's report. The higher tariffsboosted Transgaz revenues by 260.5m RON (61.3m euros), a figureaccounting for over 70% in the company's gross income. On the otherhand, the lower volume of transmitted gas cut the company'srevenues by 82.2m RON (19.3m euros). Starting 2006, the volume ofnatural gas transmitted by the company has constantly decreased, by24.14% in the past three years, but transmission tariffs havesoared during the same period by 85.7%, so that the company hasreported stronger financial indicators each year.

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